Showing posts with label Illinois. Show all posts
Showing posts with label Illinois. Show all posts

Tuesday, January 11, 2011

How Long Before Illinois Builds Walls and Barbed Wire Fences?

From the Wall Street Journal concerning our comrades in Illinois:

Under the current version of the bill, the individual income-tax rate would jump to 5%, from the current 3%, a 67% increase. That is more conservative than last week's proposed 5.25% rate, a 75% increase. Also, the corporate tax rate would increase to 7%, from the current 4.8%.

I have posted comments concerning Illinois' attempts to extort more money from its citizens in the past, including the ludicrous attempt to tax bottled water that failed miserably. Now, in a last ditch effort to chase every bit of wealth and business creators out of the state, they are jacking up income tax rates by 67%! Now this is not the law yet, but its pretty darn close to fruition.

When the trickle of citizens and businesses to low tax and business-friendly states becomes a flood, will they build a wall with gun towers and barbed wire to keep the serfs in the state? That seemed to work in East Germany.